Social media analytics helps you understand how your content performs across different platforms.
It lets you know if your social strategy is going well or needs improvement.
Whether your social media campaign is organic or paid, by analysing the performance, you can ensure that it provides you with the desired ROI.
However, deciding if the campaign is going in your favour depends on its objective.
Different businesses have different social campaign goals.
Some want to spread brand awareness among the audience, while others may want to generate leads, conversions or sales.
If that is the case, you will have to identify & monitor the KPIs that are relevant to your campaign objective.
What are KPIs?
KPIs stand for Key Performance Indicators.
They are the quantitative metrics that you need to look at to evaluate the progress or identify the areas for improvement in your social media campaign strategy.
The list of social media KPIs is long, mentioned below are some important KPIs.
- Engagement Rate
- Website site traffic
- Click Through Rate
- Reach
- Impression
- Followers’ Growth Rate
- Conversion Rate
- Post Reach
- Customer Sentiment
- Share of Voice
- Brand Mentions
- Customer Satisfaction
Metrics to Measure Social Media Campaigns Performance
Based on the KPIs and your campaign goals, let’s understand how you can measure the performance of your social media campaign.
Measure Social Media Engagement Rate
Let’s say your campaign aims to get people to interact with your post, i.e., you want more and more people to like, comment, share or save your post.
For this, you can calculate the engagement rate with the following simple formulas-
By Followers
Engagement Rate = Total number of interactions/Total number of followers X 100
By Reach
Engagement Rate = Total number of interactions/Total number of reach X 100
By Impression (best for paid promotions)
Engagement Rate = Total engagements on a post / Total impressions *100
By Views (best for video content)
Engagement Rate = Total engagements on a video post / Total video views *100
Note – Total number of interactions will be the sum of all likes, comments and shares on a post.
Image source – https://www.adobe.com/express
Measure Website Traffic
If the campaign’s goal is to bring traffic to your website, you need to check the number of times people click on your link through the social platforms you utilise.
Tools like Google Analytics help you understand which platform provides more traffic. To compare traffic from several platforms, do follow the steps given below.
- In Google Analytics, go to the Acquisition
- Click on the Traffic Acquisition
- A report will open; filter it by Session source/medium
- Finally, the detailed report will become visible, informing how traffic from social platforms engaged with your website.
By analysing this report, you can have an insight into which platform is serving better in terms of website traffic.
Note: Learn about 5 Tips for Successfully Promoting Your Business on Social Media.
Measure Brand Awareness Increase
In case you want to increase the awareness of your brand through social media, you should check the following metrics during the campaign
- Reach
- Impressions
- Views
If you find these metrics higher than before, your strategy to increase awareness is working out.
Measure Follower Count & Growth.
If your social campaign aims to get more social media profile visits or grow your followers through a paid campaign, the camping itself will provide insight into how many followers are achieved on each of your ads.
However, if you are trying to gain followers organically, you need to analyse its impact on the growth rate of your followers.
For this, you can compare your average follower growth rate (when no campaign was running) to the follower growth rate during the campaign.
To calculate this, use the following formula:
Number of followers you gained during the campaign/ Number of followers you initially had x 100
Let’s say that by running an organic campaign, you earn 500 new followers.
Prior to this, you had 5000 followers.
Now according to the above formula,
your follower growth rate will be 500/5000*100 = 10%
However, there are chances that you lose some of your initial followers during the campaign. For this, you need to calculate the net followers.
Suppose you lost 200 followers in the meantime for this, your net new followers will be
Total new followers – followers lost, 500-200= 300
And your follower’s growth rate will be Net new followers/ total followers x 100, 300/5000 x 100 = 6%.
Measure Lead & Conversions
If your campaign goal is to generate leads or conversions, then you must already have implemented conversion tracking on your website.
If not, tools like Google ads or Adobe Analytics can help you set up.
Conversion tracking helps you measure users’ actions that result in conversions.
Conversion rates are a metric that tells you how much ROI your social media marketing brings in.
The actions that may contribute to conversions include
- Bookings
- Enquiries
- Direct messages/emails
- Phone calls
- Registrations
- Subscriptions
Installs - Sales
- Downloads
Your conversion rate= number of people who take action on your page/Page’s total visitors.
Or else you can ascertain it by comparing your conversion figures generated from your social media campaign with the conversion data before the campaign started.
The bottom line is to embrace social media analytics tools.
Instead of measuring our social campaign performance manually, taking the help of social media analytics tools is wiser. These tools help you quickly analyse your social performance through a saving time and energy. There exist a number of tools which can provide you with social media analytics report and make your work easy. Here we provide you with some of them.
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